Bankia Fintech by Insomnia launches in Spain a call with challenges to design the bank of the future

The fintech acceleration programme will have specific challenges for various areas and the aim of designing the banking of the future

Bankia Fintech by Innsomnia opened the doors of its 6th edition. This is a new call to bring together projects for the banking digitalization of the Spanish and international environment. This is what Bankia informed on its website on October 15

This is a Fintech acceleration programme in Spain which on this occasion will have as its main novelty the adoption of a format of specific challenges for various areas and the aim of designing the banking of the future.

With an open challenge structure for startups, the start of this 6th edition incorporates the setting of challenges for which technological solutions with potential will be sought. Among them are: Bitcoin Pro, Open Banking, Cybersecurity, Quantum Computing and others.

The participants will be able to present their candidacy until November 30, when the scouting process will be closed and the selection of projects will begin.

“As in previous calls, the winners will be able to take part in Bankia Fintech by Innsomnia’s acceleration and mentoring programme, which will include training sessions and monitoring by more than 30 business area managers, presentations at 10 international hubs and the possibility of accessing an investment fund of more than 20 million euros specially created by the bank to promote Fintech projects developed by startups and scaleups”, they detailed.

Mentoring phase

“Another of the novelties adopted by this edition will be the creation of a prior mentoring phase for all those registered, who will have a bag of hours for the programme experts to guide them in the presentation of their candidacy. In addition, the winning startups will have the opportunity to access an innovative fast track route, thanks to which they will be able to integrate themselves in record time into the Bankia structure in order to develop their full potential”, they added from Bankia.

Edition focused on specific challenges

Ignacio Cea, corporate director of Strategy and Technological Innovation at Bankia, said: “The 6th edition of the call for proposals starts off with even more enthusiasm than the previous ones. This is an edition focused on very specific present and future challenges, in which we hope to be able to attract the best projects and teams so that, with them, in the current and future framework of Bankia, we can build valuable solutions for our clients that will in turn be of real benefit to the companies that accompany us”.

“The way in which this technological competition connects the startup ecosystem with one of the largest banks in Spain remains unique. The experience of these past years has shown us that there is room for both the most disruptive ideas and the most mature and previously tested projects, which thanks to this initiative have the opportunity to develop their full potential in a real business environment and alongside professionals with a great deal of experience in making startups focused on the fintech and insurtech fields grow,” said Francisco Estevan, Innsomnia’s CEO.